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Trading Made Simple

  • #2,241
  • May 11, 2011 5:00pm May 11, 2011 5:00pm
Quoting Juls
Eelfranz,
This might have been answered already and i appologize in advance if it has. When trading on the 1hr time frame do you avoid trades during only high news impact?
Many thanks,
Juls.
I avoid placing trades right before and a half an hour after red news on FF. No matter the time frame.

Often news comes in for the USD 7-7:30. If I have a set up at 7, and it still looks good after the news I'd consider entering.

The problem with high impact news is that even if you are on the right side of it you can still get stopped out easily as price can spike both ways hard before going in a meaningful direction.

High impact news moves the market, but it's also used by big boys to stop hunt the little fishes.

Main things not to place trades during/before are NFP and employment claims, those have the most unpredicatable spikes.

If you are in a trade before news, tighten up your SL and lock in profit if you are in profit or just close the trade. Theres always another trade around the corner.
  • #2,242
  • May 11, 2011 5:03pm May 11, 2011 5:03pm
Best night of trading this system so far (Sydney time that is). Set ups all over the place and I took over a 100 pips each on both long gbpjpy and short audusd trades using 1hr charts. Looking at other charts there must have been at least 6 or more other pairs where similar pips could have been made - sort of seemed too easy.
  • #2,243
  • May 11, 2011 5:07pm May 11, 2011 5:07pm
Silversurfer,
Mind posting some charts please if not too much bother.
Many thanks,
Juls.
  • #2,244
  • May 11, 2011 5:10pm May 11, 2011 5:10pm
Kumo dragon,
Thanks for the reply, i agree with what you are saying. Sometimes there is just so much high impact news about (red) that maybe i should stick to the 4hr time frame, as this makes it easier to manage whilst at work.
Many thanks,
Juls.
  • #2,245
  • May 11, 2011 5:10pm May 11, 2011 5:10pm
Quoting silversurfer
Best night of trading this system so far (Sydney time that is). Set ups all over the place and I took over a 100 pips each on both long gbpjpy and short audusd trades using 1hr charts. Looking at other charts there must have been at least 6 or more other pairs where similar pips could have been made - sort of seemed too easy.
LOL, ya that's the problem with trading. When everything works as planned for winning trades, it makes it seem too easy.

Main thing is not to lose your head and think it will be that way every time.

How you manage the losers will make the difference.
  • #2,246
  • May 11, 2011 5:31pm May 11, 2011 5:31pm
Quoting Juls
Kumo dragon,
Thanks for the reply, i agree with what you are saying. Sometimes there is just so much high impact news about (red) that maybe i should stick to the 4hr time frame, as this makes it easier to manage whilst at work.
Many thanks,
Juls.
Even on 4H time frame don't place a trade during RED news, IMO. Remember price doesn't know time frames. The time frames are just fractals of the same price. Price is price regardless of the time frame.
  • #2,247
  • May 11, 2011 5:34pm May 11, 2011 5:34pm
Here's the 2 trades I took I have marked the entry candles. On the gbpjpy I exited when tdi went flat and on the aud I ran a trailing stop as I went to bed but woke to see I was still in the trade and manually exited when tdi flattened.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpy.gif Size: 19 KB
  • #2,248
  • May 11, 2011 5:36pm May 11, 2011 5:36pm
Took two trades tonight, eur/chf and eur/usd. Another 100 pips for tonight

Eur/Usd:

http://oi56.tinypic.com/2zpoahz.jpg

Eur/Chf

http://oi55.tinypic.com/iomav7.jpg
  • #2,249
  • May 11, 2011 5:37pm May 11, 2011 5:37pm
Quoting KumoDragon
Even on 4H time frame don't place a trade during RED news, IMO. Remember price doesn't know time frames. The time frames are just fractals of the same price. Price is price regardless of the time frame.
Yes i understand thanks, but because of bigger sl placed at most recent high / low the market will have to work much harder to take out your stop, and most of the time it will settle and continue its original direction. Unless NFP etc...
Many thanks,
Juls.
  • #2,250
  • May 11, 2011 5:45pm May 11, 2011 5:45pm
Is it just me or are you guys posting your charts AFTER banking 100pips, as opposed to posting your entries at the time you place them?
  • #2,251
  • May 11, 2011 5:47pm May 11, 2011 5:47pm
Quoting saeed319
Is it just me or are you guys posting your charts AFTER banking 100pips, as opposed to posting your entries at the time you place them?
Most of the time I am yes. As when a trade is on I'm more concerned with trade management and locking in pips as it goes, rather than pointing out my entry.

If you see an actual entry printed at the proper time, what does it matter anyway?
  • #2,252
  • May 11, 2011 5:54pm May 11, 2011 5:54pm
Quoting Juls
Yes i understand thanks, but because of bigger sl placed at most recent high / low the market will have to work much harder to take out your stop, and most of the time it will settle and continue its original direction. Unless NFP etc...
Many thanks,
Juls.
That is true, but it's still better to wait until after the news IMO, by at least a half an hour.

IME, you never know just how big a spike can be, sometimes the spikes make absolutely no sense, then you find out there was additional news or some talking head said the wrong thing. And of course sometimes the spike isn't a spike but just keeps going and going against you.

I'd say I've seen about 50% of the time, on red dead news, I've seen a spike go up and down, (sometimes even more than once) and then go to exactly where it started.

Why go through the drawdown (and blood pressure spike) if you can wait for the news spike to be over and get in when it's price is actually going in the proper trigger direction.

Sure the strict rules say get in at the start of the candle, but you can still find a later entry within the 1'st or 2nd candle.
  • #2,253
  • May 11, 2011 6:02pm May 11, 2011 6:02pm
eelfranz (or anyone that knows his answer) I have question. I think you answered this already but I've been digging and I can't find it.

I noticed that the angle of the green TDI on a cross seems to change somewhat when zooming in and out.

So, when looking at the angle what magnification do you use?
  • #2,254
  • Edited 6:08pm May 11, 2011 6:07pm | Edited 6:08pm
Kumo dragon,
I believe he zooms in as far as possible then - by 2...
  • #2,255
  • May 11, 2011 6:08pm May 11, 2011 6:08pm
Hey Guys.....

Sorry I haven't been online much. Felt like crap the last two weeks... didn;t even trade yesterday or today...

Markets looked poor this last week to me I don't trade when I'm really feeling bad...

Doc appointment tomorrow.....

E
  • #2,256
  • May 11, 2011 6:10pm May 11, 2011 6:10pm
Hope you feel better soon mate, get some rest, the markets aint going anywhere
  • #2,257
  • May 11, 2011 6:10pm May 11, 2011 6:10pm
Quoting KumoDragon
eelfranz (or anyone that knows his answer) I have question. I think you answered this already but I've been digging and I can't find it.

I noticed that the angle of the green TDI on a cross seems to change somewhat when zooming in and out.

So, when looking at the angle what magnification do you use?
I believe he said he expands his chart all the way out and then backs up 2 levels.
  • #2,258
  • May 11, 2011 6:14pm May 11, 2011 6:14pm
Juls - Kumo...



I click the + to the max then back off on the - two times...
Yes
  • #2,259
  • May 11, 2011 6:14pm May 11, 2011 6:14pm
Quoting Juls
Kumo dragon,
I believe he zooms in as far as possible then - by 2...
Thanks guys!

Hope everyone that traded had a good day.

Sorry to hear that you aren't feeling well eelfranz. My prayers go out to you.
  • #2,260
  • May 11, 2011 6:17pm May 11, 2011 6:17pm
Big E and The Seniors,

Newbie need help here, last day i made 3 trades using this method, 2 of them been bad trades. Please tell me what's wrong with my entry. I open the trades on 4 AM (GMT+7) using TF D1 last day, when i looked at new candles on 4 AM today (GMT+7), i realized that i become a looser here
Attached Image(s) (click to enlarge)
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